Aquadillers and Mosaic condos are popping up in the markets in the country, bringing with them a whole new wave of luxury condo developments.
The biggest of these, the Aquadilla Condominiums in Mumbai, is scheduled to be built next month in Pune, the first in the city.
The project will be built on the former site of the Bombay Birla Industrial Centre, the site of a massive factory complex that once housed many of the world’s most iconic manufacturers.
The building will feature two floors of terraced terraces, with a rooftop garden on the upper floors, as well as a two-storey parking garage on the ground floor.
The building is the brainchild of two of the country’s top real estate developers, Gurgaon-based GVK Capital and its Mumbai-based subsidiary, MHA Capital.
The MHA group has also developed several other high-end residential and commercial projects in Mumbai.
In a statement to The Hindu, GVK CEO Manoj Sinha said the building will be a multi-level residential development with more than 400 rooms, with the main unit occupying the top three floors.
This will be connected by a multi storey residential wing on the third and fourth floors, he said.
The main office space, which is being built on top of the terraces on the first floor, will house an information centre, a restaurant and a fitness centre.
On the ground level, there will be an office and retail space, along with a hotel room.
In total, the project will have around 2,000 apartments, including 600 suites.
In a statement, the developers said that the project is designed to provide a “world-class residential experience” in the area, with “all amenities including a spa, swimming pool, gymnasium, spa sauna, fitness centre, guest house, a bar and private garden”.
It also plans to provide an additional 2,500 square meters of ground floor retail space.
According to the developers, the area is currently home to “hundreds of condominium projects in different stages of development”, and there are a lot of projects like these in the Mumbai market.
“There is a lot going on in the industry right now, and with this project, we are hoping to create a buzz for the city and create more new projects for the local market,” Sinha added.